March 08, 2023 08:58 GMT
Downwards Revision to Q4 GDP Likely
- After German Q4 GDP was revised down to -0.4% q/q and Irish Q4 GDP was markedly downgraded from +3.5% q/q to +0.3% q/q, there is a possibility of the eurozone having stalled in Q4 (versus +0.1% q/q in flash).
- These revisions alongside the possibility of other member states reporting weaker Q4 prints may have pushed the eurozone economy into contractionary territory in Q4. The EZ Q4 GDP data is due at 1000 GMT / 1100 CET.
- Focus today will be on the detail of the components’ breakdown, whereby private consumption will likely have dragged on growth.